The Ledger
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Rasch: US medical provider networks drive the majority of health insurance costs
“The medical provider networks in the US charge a very high price and internationally medical provider networks have chart have no price, but it's like a majority of the cost of insurance.”
Rasch: Traditional local social safety nets fail cross-border remote workers
“The Internet labor market, like. You know, it's global, goes across borders, but all the infrastructure that supports the labor market, it kind of works as if it's local. And so a lot of the infrastructure does, just doesn't work, right? So it's like, if you'r…”
Rasch: SafetyWing closed its Series B at a $195M post-money valuation
“I think the like post when valuation was like one 95.”
SafetyWing counts approximately 25,000 active policies per month
“Active policies like last month is I thought 25,000.”
SafetyWing is developing a direct-payment card for medical purchases
“We are making later this year hopefully we'll be ready, something called like a save to win card so that you can pay then at the point of purchase with the save to win card. So even if you're not referred there by us you don't have to pay out of pocket”
SafetyWing doubled its revenue in 2022 compared to 2021
“We've doubled. There's a 2022 versus 21. I looked it up the other day.”
Rasch: SafetyWing has raised a total of $53 million in capital
“We have raised, so we've raised a total of fifty three million dollars, actually quite a bit through a series run, so we raised, we did Y Combinator in 2018, seed run three and a half, 2019 in 2020 series A eight million, and now in 2020 series B thirty five m…”
SafetyWing launched B2B insurance dashboard in 2020 after 100 inbound requests
“A lot of companies reached out and said, Hey, this nomad thing, the global health insurance, that looks cool. I want to buy that for my global team. And then we said, after we got that request a hundred times, we said we got to build it. So we made a dashboard…”
SafetyWing grew 3x in five months after introducing COVID-19 coverage
“First, it was very bad because a third of our customers evacuated and we lost them. So how a huge drop. And then, but then come August in 20, 20, we had this massive growth three X in five months. Due to introducing COVID coverage”